Vault-13

INTERCEPT PHARMACEUTICALS IN ICPT 3.25 07.01.23

NOTE 3.250% 7/0 · US DOMESTIC · CUSIP 45845PAA6

4 institutional holders -14 vs Q1 2023
13,00013.0k shares reported held*
$10.1mreported value*
1 new 0 added 1 reduced 15 sold out net sold ≈ $87.7m (+10.0k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $777.62.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 21Q4 22: 23Q1 23: 18Q2 23: 44Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202221
Q4 202223
Q1 202318
Q2 20234

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q4 22: 8 bought or addedQ4 22: 5 cut or sold outQ4 22Q1 23: 7 bought or addedQ1 23: 6 cut or sold outQ1 23Q2 23: 1 bought or addedQ2 23: 16 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202285
Q1 202376
Q2 2023116

Biggest buyers

CW Advisors, LLC New +10,000+10.0k

Biggest sellers

DEERFIELD MANAGEMENT COMPANY, L.P. Sold out -57,791,000-57.8m
Kohlberg Kravis Roberts & Co. L.P. Sold out -13,507,000-13.5m
OAKTREE CAPITAL MANAGEMENT LP Reduced -4,728,000-4.7m
Atlas Merchant Capital LLC Sold out -3,500,000-3.5m
Russell Investments Group, Ltd. Sold out -3,384,000-3.4m
MORGAN STANLEY Sold out -1,452,332-1.5m
PIPER SANDLER & CO. Sold out -1,162,000-1.2m
WELLS FARGO & COMPANY/MN Sold out -550,500-550.5k
STATE STREET CORP Sold out -521,000-521.0k
GAMCO INVESTORS, INC. ET AL Sold out -250,000-250.0k

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 OAKTREE CAPITAL MANAGEMENT LP 0.13% of their portfolio LOS ANGELES, CA 9,506,0009.5m $9.6m $9.6m 0.13% Reduced -4.7m -4,728,000
2 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 200,000200.0k $198.5k $198.5k 0.00% Unchanged
3 CW Advisors, LLC 0.00% of their portfolio BOSTON, MA 10,00010.0k $10.0k $10.0k 0.00% New
4 WEDBUSH SECURITIES INC 0.01% of their portfolio PASADENA, CA 3,0003.0k $300.0k $300.0k 0.01% Unchanged